A savings bank defined the following series of payments to a recently granted loan (year 0): payments of $ 300 at the en

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A savings bank defined the following series of payments to a
recently granted loan (year 0): payments of $ 300 at the end of
month 2, 3, 4 and 5; a payment of magnitude $ 600 at the end of the
eighth month and finally payments of $ 200 in months 10, 11 and 12.
Determine the amount of the loan concession if the nominal interest
rate is equal to 6% per year with monthly compounding.
USE THE FOLLOWING FORMULAS AND SHOW PROCEDURE

A Savings Bank Defined The Following Series Of Payments To A Recently Granted Loan Year 0 Payments Of 300 At The En 1 (4.34 KiB) Viewed 53 times

F=P (1 + i)" 1 P= (1+i)" (1+i)"-1 F=A A= (1+i)n-1 (1+i)"-1 P=A i(1+i)" i(1+i)" A=P (1+i)n-1